Reasons to order an appraisal from Astute Appraisals, Inc.
To many, an appraisal is simply one more thing on the settlement sheet for a home purchase or refinance. And while there are a developing number of automated home valuation methods that might appear less expensive than an appraisal, the majority of lenders still call for a local expert because the stakes are incredibly high. Is obtaining a mortgage the only reason to get an appraisal? Are there also times when the services of a certified, independent real estate professional could be helpful? You bet there are.
Appeal your tax assessment
It's possible you're paying too much in property taxes if you live in an area where property values have declined. Ad Valorem taxes are determined by a past assessment of your house, so if values are less than what they used to be in your neighborhood, you can challenge your assessment and save money. When building your case, an appraisal from us is your best evidence. We can assist you in appealing your tax assessment.
Eliminating PMI for mortgage payments
Private Mortgage Insurance, or PMI, is a supplemental insurance plan that almost all lenders ask home buyers to purchase when the amount being loaned to the home owner is more than 80% of the actual value of the property. Seeing that additional payment is usually bundled into the monthly mortgage payment, it is often forgotten. PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - falls below the 80% mark, making this very unfortunate. In fact, the Homeowners Protection Act (HPA) of 1998 was implemented by the United States Congress that requires lenders to dismiss the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to eliminate PMI, Astute Appraisals, Inc. can provide you with a statement regarding the value of your home. The price you paid for the appraisal can often be regained in little time because you'll no longer be paying the PMI.
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Divorce settlement with less stress
A divorce is often complicated by the troublesome decision of who gets the house, and it can be an especially traumatic occurrence for both parties. It's a good idea to get an appraisal from Astute Appraisals, Inc. so both parties are entirely aware of the true market value of their house, regardless of the situation.
The parties will have a better idea of what price to set, if they need to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Fair and accurate estate liquidation
The loss of a loved one is a painful time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. The ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP) binds us with confidentiality, ensuring the utmost degree of discretion.
Unlike many wealthy individuals, most Americans do not have dedicated estate planners or executors to handle these affairs. A home or other property often makes up an unequal share of the total estate value, so understanding the true value of the real estate at hand is of vital importance to ensuring disputing parties walk away knowing they've received an honest deal.
Relocate to or from Howard County through an employee relocation program
Employee relocation is a stressful event, and we understand. That's why we take great care in establishing an accommodating appointment time for the appraisal inspection. During our thorough inspection, we encourage relocating employees to provide input on the positive features of their property, as well as information regarding any new sales or listings in their neighborhood that they want considered.
Close on your home quickly — at the right price
Whether you decide to sell your home on your own or use the assistance of a real estate agent, a professional appraisal will help you make a more informed decision when determining your asking price. Apart from a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees aren't related to the sales price, but rather they depend on our efforts to finish the appraisal report.
On a daily basis, we determine the difference in value things like an additional bathroom or a kitchen remodel can make. Seeking a professional appraisal is a trusted way to determine what improvements will add value and what a suitable sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time, because we're experts in knowing how long properties are one the market.